UPDATE 1-Turkish lira volatility gauges calm to lowest since August

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LONDON, Nov 14 (Reuters) - Turkish lira ‘implied’ volatility hit its lowest since early August and broke through a key technical level on Wednesday, as falling oil prices added to a general easing of worries around the currency in the last few months.

Three-month implied volatility dropped to as low as 18.90, which also took in under the 200-day moving average on the option which was at 19 on Wednesday.

Money markets, though still hard to read accurately, are also starting to price a modest fall in interest rates going forward, having been pricing in rate rises for most of the last year.